Chairman of the Financial Stability Board: The size of the stable currency will constitute a “regulatory challenge”

On October 3, at the European Banking Summit in Belgium, Randall Quarles, chairman of the Financial Stability Board (FSB), said that the rise of stable coins such as Facebook's libra will bring future "regulatory challenges." According to Quarles, high-profile digital currencies have caused widespread concern about stable currencies and will lead to more project development. The increase in size and scope may result in regulators needing to address unforeseen challenges.